Texas Fed Cattle Prices Hold
Steady On Significant Volume

AMARILLO —(USDA)— Slaughter steers and heifers sold mostly steady in Texas Panhandle and Western Oklahoma feedlot trading last week. Trade was active on Friday, turned slow until late Wednesday then moved fairly active through Thursday.

Movement off the showlist was moderate, leaving some carryover. Supplies of market-ready cattle continue to run moderate to heavy. Sales were confirmed on 157,800 head, including 28,800 formulated cattle, 6300 contracts and 113 loads or 4000 head of CME deliveries.

The weighted average price of all beef type steers was $65.51. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1160 pounds compared to 1158 a week earlier and 1138 a year ago. Heifer percentages were 39, 40 and 45, respectively.

Slaughter cattle prices were mostly steady in most trading areas after a brief rise the previous Friday. Demand was mostly moderate as packers tried to survive on inventory and bypass higher prices. Despite mostly lower CME futures, cattle feeders continued to hold out for more money. By the week's end many sold cattle as bearish undertones began to appear in the market.

The boxed beef price rose $1.26 to an average of $104.28 for the highest level in almost two years. Beef movement was good during week.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $65-66.50, late mostly $65, weighted average price $65.52; select and few choice 1-3 1200-1325 lbs. $64.50-65.50, weighted average $65.18; pen select and choice 1-3 1250-1300 lb. Holsteins $57.50-60.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $65-66.50, late mostly $65, weighted average $65.56; select and few choice 2-3 1075-1200 lbs. $64-65, weighted average $64.45.